Key Highlights Emphasise that money (be it in physical or digital form) is a limited resource Allow your children to spend at least some of the ang bao money they’ve received so they learn invaluable real-life money management skills If your child is older, it may be worthwhile allowing them to invest their ang bao money, so they can learn how to grow their savings Research consistently shows a Source: NCBI between financial literacy and more financial planning and savings, better investment behaviour, and a better understanding of managing retirement drawdowns. In Singapore, statistics show that there is an increasing tendency in younger Singaporeans to default on their credit card debt – a telling indication of low financial literacy, skills, and discipline. As parents, you hold the power to reverse this trend. Find out how you can begin encoding healthy financial habits in your...